Hexagon Annual Report 2019

76 Board of Directors' Report 2019 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS KEY FIGURES (MNOK) 2019 2018 Revenue 3 416.1 1 486.5 Operating profit before depreciation (EBITDA) 359.7 234.5 Operating profit (EBIT) 120.1 140.2 EBITDA % 10.5 % 15.8 % EBIT % 3.5 % 9.4 % AGGREGATED RESULTS INCLUDING AGILITY FUEL SOLUTIONS 1) (MNOK) 2019 2018 Revenue 3 416.1 2 880.6 Adjusted operating profit before depreciation (EBITDA) 2) 315.5 287.8 Gain net of all Agility transaction related charges / Legacy unvested stock compensation/ Earnout related to xperion transaction in 2016 44.2 74.9 Operating profit before depreciation (EBITDA) 359.7 362.7 1) Figures in the table represent unaudited aggregated results 2018. Estimated intercompany transactions have been eliminated 2) Adjusted of IFRS adjusted non-cash stock compensation costs 2018 REVENUE MNOK EBITDA MNOK EBIT MNOK PREPARED TO HANDLE VOLATILITY AND CAPTURE FUTURE GROWTH Reported Hexagon Group revenues for the year 2019 increased by 130% to NOK 3,416.1 million compared with 1,486.5 million in 2018 and reported EBITDA was NOK 359.7 (234.5) million. The underlying organic revenue growth was 19%. This was primarily driven by strong performances in Agility Fuel Solutions, which has been consolidated after the acquisition on 4 January 2019, and Hexagon Purus’ CNG Light-Duty Vehicles business. The acquisition of Agility entailed a one-off EBITDA impact for the full year of NOK 44.2 million. This incorporated a net accounting gain of NOK 69.4 million less other transaction related charges of NOK 25.2 million.